Opportunities limit Petrobras' ethanol investments

Reuters
Mon Jun 25, 2012 9:31pm IST

* Petrobras says investment opportunities are limited in ethanol
* Investments in ethanol declines in new five-year plan - CEO

RIO DE JANEIRO, June 25 (Reuters) - Sparse opportunities in Brazil's ethanol sector have limited the number of new biofuel projects in the five-year investment plan of the state-led oil company Petrobras, Chief Executive Maria das Gracas Foster said on Monday.

Petrobras hopes to become the world's largest exporter of ethanol over the next decade and one of Brazil's largest producers by forming minority partnerships with milling groups here.

Investments in Brazil's ethanol industry have dried up over the past few years after a boom that peaked in 2007-2008 which brought tens of billions of dollars in investments into the industry.

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